What is the interest rate of the following bond, assuming that the market for the bond is in equilibrium? Par value: $1,000 Years to maturity: 15 years Coupon rate: 8% paid semiannually Current market price: $1,100

Select one: a. 6.21% b. 4.21% c. 3.46% d. 6.92% e. 5.88%